Tutbury Associates LtdTutbury Associates Ltd

By Kelly Tutbury

Tauranga-based Tutbury & Associates Limited are your accounting experts.

The friendly and professional experts at Tutbury & Associates Limited can assist you with personal, business and commercial accountancy needs.

With an emphasis of technology and innovation, the Tutbury & Associates Limited team boasts a great mix of youthful and progressive attitudes combined with years of accounting training and experience. “Our aim is to minimize your tax and help you grow your business,” says Kelly Tutbury, Accountant and Managing Director at Tutbury & Associates Limited.

Though they are based in Tauranga, Tutbury & Associates Limited are cloud-based so that they can assist clients across New Zealand.

Ideal for trades people, or anyone who wants to grow their business, Tutbury & Associates Limited offers expert services in compilation, financial planning, taxation, business accounting, family trusts and Xero bundles.

Though most people dislike doing their taxes, whether it be business or personal, the tax guru’s Tutbury & Associates Limited can make this process a breeze.

“We can assist you with all your taxation needs and liaise directly with the Inland Revenue on your behalf,” advises Kelly. They can take you through your income tax and provisional tax and will keep you reminded of your important dates.

Tutbury & Associates Limited believe in always ‘walking the talk’ so they are more than happy to roll up their sleeves and meet you on site to get a better understanding of how your business runs. “From this we will be able to give you valuable input on where we think you can save money or grow your business,” adds Kelly.

Kelly has owned Tutbury & Associates Limited for the last three years, which has seen a tremendous business growth by 25 per cent over the last 18 months

Tutbury & Associates Limited has worked hard to build their reputation of excellent customer service by working interactively with their clients and making sure that their clients get value for money.

Contact Tutbury & Associates Limited:
Phone: 07 576 2194
Email: admin@tutburyassociates.co.nz
Address:  23 Myres Street Tauranga
Website: http://tutburyassociates.co.nz
Facebook: https://www.facebook.com/tutburyassociates/
Instagram: https://www.instagram.com/tutburyassociatesltd/
Youtube: https://www.youtube.com/channel/UCTYBVKrnJdeuxPLwnjDejfw
Google+: https://plus.google.com/u/0/114723736893906149541
Pinterest: https://www.pinterest.com/tutburyassociatesltd/
Twitter: https://twitter.com/TutburyAssoc
LinkedIn: https://www.linkedin.com/company/13728219/admin/overview/
Contact MediaPA:

Phone: 0274 587 724

Email: phillip@mediapa.co.nz

Website: www.mediapa.co.nz

Facebook: www.facebook.com/MediaPA

Twitter: twitter.com/NZ_MediaPA

YouTube: www.youtube.com/user/TheMediaPA

Pinterest: www.pinterest.com/NZMediaPA

 

By Kelly Tutbury

So you’ve launched your business – now what?

Good news for small business owners: according to the US Small Business Administration, nearly 80% of small businesses survive their first year.

However, that number begins to drop as time rolls on. Only half of small businesses pass the five year mark, and a mere third celebrate their tenth anniversary.

Taking steps to create a good foundation in the early days of your business is essential for a sustainable and profitable future. Here’s how.

Keep your eyes on the numbers

If you’re just starting out, you may be surprised by just how quickly those day to day expenses add up. It’s important to make sure, right from day one, that you consistently track your spending, file your receipts, and monitor your income and expenses with an easy, reliable accounting system.

Cloud based accounting software (like www.xero.co.nz ) can help you know exactly where your finances stand in real time—with secure access to accurate, up to date financial data anywhere, anytime.

In addition to being able to collaborate more efficiently with your bookkeeper and accountant so you can get advice whenever you need it, you’ll avoid the stress and hassle come tax time—and be empowered every day to make better, smarter business decisions.

Don’t neglect marketing
All entrepreneurs are incredibly busy, and it can be a real challenge to find the time to promote your business. The other challenge for new businesses is money—but every small business needs to invest in marketing activities that will bring in more sales and keep the cash flow flowing.

It’s wise to be wary of costly large-scale marketing strategies when you’re just starting out. The best use of your time in the early days is to really get to know your customers and how they tick, so you can design (or hire an expert to mastermind) highly appealing, cost-effective campaigns.

And don’t turn a blind eye to what you’re competitors are up to. Monitor how they attract new customers and think about how you can improve on what they’re doing—or take a completely different approach to promoting your business that will help your young brand stand apart.

Touch base with a business advisor
Every successful entrepreneur learns from experience—not to mention failure, which can be the greatest of all teachers.

While it’s true that “you don’t know what you don’t know”, you can shrink your learning curve by reaching out to experienced mentors for guidance.

Consider working with a small business consultant who can provide personalized advice to help you make it through the first year—and an ongoing objective perspective on your business, industry, and market going forward.

 

Final thoughts
It’s been said many times that a business is like a baby—and it can be incredibly difficult for entrepreneurs to trust someone enough to hand over any aspect of it. Many business owners work themselves to exhaustion because they can’t let themselves to take a weekend off. They neglect their most important relationships and never get to enjoy their successes because there’s always more to do.  Contact www.tutburyassociates.co.nz/contact for some advice on way to streamline to save you time.

The most successful entrepreneurs know they can’t do it all—nor should they—and build in time for rest so they can be more productive at work. Train someone early on to run the business in your absence so you can take a rejuvenating vacation, and enjoy the freedom you likely dreamed off when you first imagined going into business for yourself.

By Kelly Tutbury

Tax, GST – IRD Obligations Simplified

Are you aware of your tax obligations with Inland Revenue (IRD)?

Do you understand how the tax system works in New Zealand?

GST – Are you monthly, bi-monthly or 6 monthly? Are you invoice, payments or hybrid? Are you aware of the difference or what best suits your business and cashflow?

How are you filing that GST? – with a software system like Xero you can streamline or even eradicate your paperwork. This saves you a lot of time and money, and with the new roll out with Xero you can now file your GST straight from there to Inland Revenue (IRD) with your IR log on. Here are the tips on Xero  – https://help.xero.com/NZ/GSTFileOnline

Note though that this isn’t the only software option it’s just our preferred option.

Terminal Tax – this is always due on the 7th April and is based on your last year’s profit.

Provisional Tax – If you’re GST registered bi-monthly or not GST registered (note 6 monthly GSTs are different dates) your dates are always: 28 August, 15 January and 7 May. Your tax is based on the last year’s accounts filed with the Inland Revenue (IRD) + 5% or 10%. The new changes to Prov Tax don’t come into effect till 1 April 2018. So you really need to be working closely with your Accountant to avoid those huge and unexpected tax bills.

Did you also know you can buy your tax at a better rate than the 8.27% interest Inland Revenue (IRD) is currently charging? Tax Management (TMNZ) www.tmnz.co.nz offer a service to reduce your interest costs. Ask your Accountant how this works.

At Tutbury’s we are happy to help in any way. If you would like a 1-hour free consultation, please contact us. Whether it’s to discuss tax, software systems or pointing you in the right direction.

 

 

Tauranga-based Tutbury & Associates Limited are your accounting experts.
So you’ve launched your business – now what?
Tax, GST – IRD Obligations Simplified